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CAC 40 Slips As Eurozone Industrial Output Falls
(RTTNews) - French stocks declined on Wednesday after data showed Eurozone industrial production fell more than expected in July.
Industrial output fell 1.1 percent month-on-month, the Eurostat said in its latest release, versus -0.7 percent expected and a 0.4 percent increase reported in June. Investors also awaited U.S. inflation data due later in the day for directional cues. The benchmark CAC 40 was down 48 points, or 0.7 percent, at 7,205 after declining 0.4 percent the previous day.
Lender Societe Generale was marginally higher after it named Bruno Delas as chief information officer to replace Carlos Goncalves, who is leaving the bank.
Automaker Renault rose over 2 percent after the European Commission, the executive arm of the European Union, launched an investigation into subsidies given to electric vehicle makers in China.
European Commission President Ursula von der Leyen said Europe was "open to competition but not for a race to the bottom."
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